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“Today marks a new milestone for our member companies. By the end of our strategic plan Alliance 2022, we aim to double our annual synergies to €10 billion. To achieve this target, on one side Renault, Nissan and Mitsubishi Motors will accelerate collaboration on common platforms, powertrains and next-generation electric, autonomous and connected technologies. From the other side, synergies will be enhanced by our growing scale. Our total annual sales are forecast to exceed 14 million units, generating revenues expected at $240 billion by the end of the plan.”

Some of the investment will go to developing new electric vehicles.

Unlike most other automakers, the alliance doesn’t make an announcement about all kinds of EVs, like hybrids and plug-in hybrids, but they instead confirm that their new EVs will be “purely electric”:

“Twelve new zero-emission electric vehicles will be launched by 2022, utilizing new common electric vehicle platforms and components for multiple segments.”

Mitsubishi has yet to release an all-electric vehicle (update: I forgot that iMiev was a thing, but that’s probably for the best), but they will now benefit from Nissan and Renault continuous electric powertrain improvements for the Leaf and Zoe.